SpiceJet’s Ajay Singh to acquire majority stake in NDTV

As per media reports, Ajay Singh, Chairman and Managing Director, SpiceJet, is all set to acquire a majority stake in news channel NDTV. The reports state that Singh’s stake in NDTV could be as high as 40 per cent. Prannoy and Radhika Roy, promoters of NDTV, will hold a 20 per cent stake in the channel. 

As is known, Prannoy Roy, his wife Radhika Roy and promoter firm RRPR Holding have been facing CBI probe for alleged bank fraud and raids have been carried out at their premises. 

Ajay Singh, who acquired Spicejet in early 2015, is the man responsible for the low cost airlines revival. He was also part of the core campaigning team of the BJP during the 2014 general elections and is credit with creating the very popular poll slogan – ‘Ab ki baar Modi Sarkar’. 

Meanwhile, the Bombay Stock Exchange today sought clarification from NDTV with reference to a news flashed on www.moneycontrol.com, dated September 22, 2017, headlined ‘SpiceJet’s Ajay Singh set to take control of NDTV’. NDTV’s reply is awaited.